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David Mulroney served as Canadian ambassador to China from 2009 to 2012, during a period of improving relations between the two countries. But in his book published this month, “Middle Power, Middle Kingdom,” he argues that Canada has missed some opportunities to capitalize on a better relationship with China. That’s in part because of Canada’s historic reliance on its relationship with the U.S., and its slowness in recognizing the importance of engaging on its own with the world’s second-biggest economy. One casualty, he says, is Chinese investment in Canada, which has remained focused on resources instead of reaching into other sectors. Read More »

An index tracking global property prices in 50 countries shows prices haven’t much risen over the past five years, but new research from the International Monetary Fund shows how averages can be misleading.

The IMF divided those countries into two groups. The first group of 33 countries, which includes the U.S. and the United Kingdom, are those where prices are still recovering. Prices in this group ran up strongly before the 2008 financial crisis and dropped sharply after it hit. These countries have also witnessed a generally slower economic rebound.

The second group of 17 countries, which includes Australia, Canada and China, had a smaller pre-crisis housing boom and have seen stronger post-crisis economic growth. Read More »

Many central banks held interest rates steady in the third quarter, but a few made moves worth noting. The European Central bank and the central banks of Israel, South Korea and Turkey cut interest rates. New Zealand and South Africa raised rates. Central bankers in several countries focused on managing their exchange rates to support their economies.

Here’s a guide to the actions and outlooks for 25 central banks around the world, compiled by our global staff of reporters and editors. Read More »

Foreign purchases of U.S. real estate jumped by 35% last year, and the Chinese led the way, according to a survey released Tuesday.

Chinese buyers have become the largest source of foreign cash in the U.S. residential real estate market, accounting for nearly one in four dollars spent by foreigners on American housing last year, the National Association of Realtors said in its annual survey of international property sales. Read More »

It’s cold, dark and isolated. It also enjoys some of the world’s fastest Internet service. Norway’s Telenor AS provides state-of-the-art connectivity to the citizens of a remote Norwegian outpost. Read More »

“Rewind, rewind, rewind.” That was Toronto Mayor Rob Ford’s reply to questions about his prviate behavior Wednesday during a debate of the city’s mayoral candidates. The election isn’t until October, but the controversial mayor’s performance indicated he’s still a contender who sticks to his tax-cutting message. Read More »

The giant Ontario Teachers’ Pension Plan opens a Hong Kong office with a hint of caution about investing in China, saying lack of clear information could make it a tough place to invest.

Lawrence Summers pulls out of the contest to succeed Ben Bernanke as Fed chairman after weeks of public excoriation, forcing President Barack Obama to move further down the list of contenders to head the U.S. central bank.

Canadian transportation regulators are reviewing minimum insurance amounts set for railways after the disastrous crash at Lac-Mégantic, where the shipper’s policy was shown to cover only a small part of the estimated damages.

Even in an age of Twitter posts and Instagram photos, e-mail is still the way marketers reach the hearts–and wallets–of consumers. And that is why retailers are up in arms about Google’s latest tweak to Gmail. Read More »

Beleaguered BlackBerry is aiming to run a fast auction process that could be wrapped up by November.

Canadian investment banking veteran David Beatty leads a group seeking approval to set up a new institutional brokerage firm, according to a confidential regulatory application.

When Shell began a multibillion-dollar effort to tap China shale gas, it seemed like a can’t-miss wager. But it is finding that drilling for shale gas in China isn’t easy.

The Harper government announced a new – slightly softer – target for reducing the national debt, even as it presses other nations at the G20 summit to follow Canada’s lead in curbing debts and deficits.

Chinese fugitives who touched down in Vancouver or Toronto with suitcases of illicit cash might find it harder to keep their fortunes.

Canada became the first country to reach a deal with China to share forfeited assets in an effort to target international organized crime, according to the official Xinhua News Agency. Once the pact is signed, one country will be able to get money back if a fugitive transfers illegal assets to the other, according to Xinhua.

“Canada is not, and will not be seen as, a safe haven for the proceeds of crime,” said Canadian Foreign Affairs Minister John Baird in a news release about the pact. Read More »

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